tag:blogger.com,1999:blog-1530140329306503392.post1165390781809315639..comments2016-11-29T03:51:37.937-05:00Comments on Crane and Matten blog: UBS and that missing $2.3bn: Rogue trader, rogue company or rogue industry?Crane and Mattenhttp://www.blogger.com/profile/13809682169218066019noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-1530140329306503392.post-72665934664772002312011-10-03T11:01:41.261-04:002011-10-03T11:01:41.261-04:00Yes Thomas, you&#39;re right that both individual ...Yes Thomas, you&#39;re right that both individual and situational factors look to have played a role here. Rogue traders are rarely very rogue-ish. But they may be more susceptible than others to particular influences like the need to be more respected in a culture where respect is directly tied to bonuses.Crane and Mattenhttp://www.blogger.com/profile/13809682169218066019noreply@blogger.comtag:blogger.com,1999:blog-1530140329306503392.post-70462535509993142232011-10-01T10:59:33.885-04:002011-10-01T10:59:33.885-04:00I remember watching Ewan McGregor playing the role...I remember watching Ewan McGregor playing the role of Nick Leeson a few years back in &#39;Rogue Trader&#39; and the morning paper back in 08&#39; where Kerviel was suspected of rogue trading. In light of the subprime and financial crisis, most financial institutions facing bankruptcy and when downsizing was a necessity, I find it hard to fathom how people still &quot;beat&quot; the economic system and all the strict controls placed around the industry. I agree with the view that it is the industry that might be to blame, most traders rarely appear &quot;evil&quot; despite their morally dubious decisions at work. However as Adoboli said in an interview, he did it because of the social pressure at work to make money. He stated he clearly wanted to reach the &quot;higher bonus tier&quot; by making more trades since the social discrimination at work. He wanted to be seen as a bigger player and more respected in his role at work. I think there were individual and situational factors at play but that the situational factors at work pressured him into becoming a rogue trader.Thomashttp://www.blogger.com/profile/03198463021499101949noreply@blogger.com